The Hickenlooper administration said Tuesday it will form a stakeholder group to review the way oil and gas production is taxed in Colorado.The move — which is supported by some industry groups and lawmakers — comes after a legislative proposal to review severance taxes was filed last week.The severance tax levied on Colorado minerals, oil and gas sales, raised ...

Wonder how soon the Colorado Petroleum Association lobbyists will start the lie that your taxes are being raised and your gas prices will be higher. This is what they did the last time the issue came up.

dough wrote:Wonder how soon the Colorado Petroleum Association lobbyists will start the lie that your taxes are being raised and your gas prices will be higher. This is what they did the last time the issue came up.

The Oil and Gas industry pays its fair share. I work a gas field here in Colorado. For every $1.00 of revenue that field generates, the government gets $0.50. This doesn't include the income taxes on the workers, the sales taxes from the services or the infusion of money into the economy. I'd say that's a fair deal considering the government does none of the work.

It should be noted that there is breaking point here. If the taxes get too high, the work will move to more profitable fields outside of the state. The reason? Unfortunately, the profits from oil and gas drilling are much lower than one would like to think they are.

This industry contributes an incredible amount to this state's economy both in the private and public sectors. Driving it out would be devastating to this state.

"Some private economists -- and a few inside the Fed -- say the Fed's aggressiveness is increasing the risks of an outbreak of inflation..." -The WSJ "Germany Blasts 'Powers of the Fed'", June 3, 2009

dough wrote:Wonder how soon the Colorado Petroleum Association lobbyists will start the lie that your taxes are being raised and your gas prices will be higher. This is what they did the last time the issue came up.

The Oil and Gas industry pays its fair share. I work a gas field here in Colorado. For every $1.00 of revenue that field generates, the government gets $0.50. This doesn't include the income taxes on the workers, the sales taxes from the services or the infusion of money into the economy. I'd say that's a fair deal considering the government does none of the work.

It should be noted that there is breaking point here. If the taxes get too high, the work will move to more profitable fields outside of the state. The reason? Unfortunately, the profits from oil and gas drilling are much lower than one would like to think they are.

This industry contributes an incredible amount to this state's economy both in the private and public sectors. Driving it out would be devastating to this state.

NO one talking about driving the oil industry out of business. It is a well known fact that the severance taxes in Colorado are well below what other states in the Rocky Mountain west charge , and they all seem to be doing well . It is time the people of Colorado were treated fairly for the minerals in our land

dough wrote:Wonder how soon the Colorado Petroleum Association lobbyists will start the lie that your taxes are being raised and your gas prices will be higher. This is what they did the last time the issue came up.

The Oil and Gas industry pays its fair share. I work a gas field here in Colorado. For every $1.00 of revenue that field generates, the government gets $0.50. This doesn't include the income taxes on the workers, the sales taxes from the services or the infusion of money into the economy. I'd say that's a fair deal considering the government does none of the work.

It should be noted that there is breaking point here. If the taxes get too high, the work will move to more profitable fields outside of the state. The reason? Unfortunately, the profits from oil and gas drilling are much lower than one would like to think they are.

This industry contributes an incredible amount to this state's economy both in the private and public sectors. Driving it out would be devastating to this state.

NO one talking about driving the oil industry out of business. It is a well known fact that the severance taxes in Colorado are well below what other states in the Rocky Mountain west charge , and they all seem to be doing well . It is time the people of Colorado were treated fairly for the minerals in our land

It is disingenuous to exclude property taxes when comparing Colorado's oil and gas tax regime to other states. Colorado's property tax assessment formula for oil and gas is higher than any other state as oil and gas wells are assessed at three times the rate of commercial property and twelve times the rate of residential property.

Why does the state by state comparison include sales and use taxes at the local level while excluding local property taxes?